"""

Margin profile shifts after the Mobility Global spin-off

S&P Global stood out in Andvari Associates’ second-quarter 2026 investor letter as one of the companies with a stronger profitability mix following the separation of its Mobility Global unit to shareholders. According to the fund’s assessment, the company’s credit ratings, index and energy businesses generate higher operating margins than the spun-off auto-focused unit.

Andvari said the split increased the share of high-margin businesses in S&P Global’s remaining structure. The company provides indices, data, analytics and workflow solutions to global capital, energy, commodities and automotive markets.

Which units stood out in 2025?

According to the 2025 data shared by the fund, S&P Global’s highest adjusted operating margin came from its index business. The credit ratings and energy divisions also maintained strong margins, while the spun-off Mobility Global remained at a lower level.

  • S&P Dow Jones Indices: 71% adjusted operating margin
  • Credit ratings unit: 65%
  • Energy unit: 48%
  • Mobility Global: 40%

This breakdown suggests that the company’s margin quality improved after the spin-off. In particular, the index and ratings businesses appear to play the biggest role in profitability.

What do the stock performance and market cap show?

The company’s shares closed at $442.89 on August 28, 2026. At that price, S&P Global’s market value was calculated at $130.56 billion.

On the short-term performance side, the stock delivered a 6.40% return over the past month. However, over the last 52 weeks, the shares were down 14.62%, indicating that despite strong operating margins, investors remained cautious about the longer-term outlook.

Institutional interest rose slightly, but it missed the popular list

According to data cited by Andvari Associates, S&P Global shares were held in 124 hedge fund portfolios at the end of the second quarter of 2026. That was up from 122 in the previous quarter, showing a modest increase in institutional interest.

Even so, S&P Global did not make the list of the 40 most popular stocks among hedge funds heading into 2026. Andvari said it sees potential in the company, but also noted that some artificial intelligence stocks offer greater upside and lower downside risk.

"""